Vince Young after he helped lead the Longhorns to a national championship.

Vince Young after he helped lead the Longhorns to a national championship.

Photo: Kevin Fuji / Houston Chronicle

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Vince Young during his college career at Texas.

Vince Young during his college career at Texas.

Photo: Brett Coomer / Houston Chronicle

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Vince Young during his college career at Texas.

Vince Young during his college career at Texas.

Photo: Brett Coomer / Houston Chronicle

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Vince Young as the Tennessee Titans quarterback.

Vince Young as the Tennessee Titans quarterback.

Photo: Rick Havner / Associated Press

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Vince Young with the Tennessee Titans.

Vince Young with the Tennessee Titans.

Photo: Frederick Breedon / Associated Press

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Vince Young accepting his 2006 Rookie of the Year award.

Vince Young accepting his 2006 Rookie of the Year award.

Photo: Jed Jacobsohn / Getty Images

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Vince Young as the Tennessee Titans quarterback.

Vince Young as the Tennessee Titans quarterback.

Photo: Brett Coomer / Houston Chronicle

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Vince Young as the Tennessee Titans quarterback.

Vince Young as the Tennessee Titans quarterback.

Photo: Brett Coomer / Houston Chronicle

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Vince Young as the Tennessee Titans quarterback.

Vince Young as the Tennessee Titans quarterback.

Photo: John Sommer II / Getty Images

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Vince Young on the cover of Sports Illustrated.

Vince Young on the cover of Sports Illustrated.

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Vince Young on the cover of the Madden 2008 video game.

Vince Young on the cover of the Madden 2008 video game.

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Vince Young during the Pro Bowl.

Vince Young during the Pro Bowl.

Photo: Paul Jasienski / Getty Images

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Vince Young as the Philadelphia Eagles quarterback.

Vince Young as the Philadelphia Eagles quarterback.

Photo: Michael Perez / Associated Press

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Vince Young with the Philadelphia Eagles.

Vince Young with the Philadelphia Eagles.

Photo: Henny Ray Abrams / Associated Press

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Vince Young with the Philadelphia Eagles.

Vince Young with the Philadelphia Eagles.

Photo: Al Bello / Getty Images

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Vince Young as the Buffalo Bills quarterback.

Vince Young as the Buffalo Bills quarterback.

Photo: Andy King / Associated Press

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Vince Young with the Buffalo Bills.

Vince Young with the Buffalo Bills.

Photo: Gary Wiepert / Associated Press

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Vince Young as the Green Bay Packers quarterback.

Vince Young as the Green Bay Packers quarterback.

Photo: Reed Hoffman / Associated Press

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Vince Young with the Green Bay Packers.

Vince Young with the Green Bay Packers.

Photo: Mike Roemer / Associated Press

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Vince Young with former Titans quarterback Steve McNair.

Vince Young with former Titans quarterback Steve McNair.

Photo: Donn Jones / Associated Press

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Vince Young at the 2013 ESPY awards.

Vince Young at the 2013 ESPY awards.

Photo: Alberto E. Rodriguez / Getty Images

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Vince Young during a workout at Texas in 2013.

Vince Young during a workout at Texas in 2013.

Photo: Eric Gay / Associated Press

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Vince Young during a workout at Texas in 2013.

Vince Young during a workout at Texas in 2013.

Photo: Eric Gay / Associated Press

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Vince Young during a workout at Texas in 2013.

Vince Young during a workout at Texas in 2013.

Photo: Eric Gay / Associated Press

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Vince Young with former Texas coach Mack Brown.

Vince Young with former Texas coach Mack Brown.

Photo: Brian Bahr / Getty Images

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Vince Young asks judge to dismiss bankruptcy petition

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Attorneys for Vince Young said Friday that the former NFL quarterback has settled his legal dispute with a New York lender and asked a federal judge to dismiss Young’s voluntary Chapter 11 bankruptcy petition filed two weeks ago.

According to the six-page motion filed with U.S. Bankruptcy Judge David R. Jones, Young filed for bankruptcy protection Jan. 17 primarily to forestall debt collection efforts by Pro Player Funding, a New York lender that had a judgment with interest totaling about $2.5 million against Young stemming from a loan taken in his name during the 2011 NFL lockout.

Young has reached a resolution with Pro Player Funding, according to the motion, and therefore is asking for the Chapter 11 case to be dismissed.

“The objectives of this bankruptcy case have been fulfilled and Young has reached a resolution with his primary creditor,” the motion continued. “This development alleviates the need for Young to remain in bankruptcy, and Young can pay his few remaining creditors upon dismissal without the need for continued oversight by the court.”

Young’s attorney, Brian Kilmer, said in the motion attorneys for Pro Player Funding support dismissal of the bankruptcy case.

Austin attorney Trey Dolezal, who represents Young in the Pro Player Funding and Peoples cases, said in an e-mail, “Vince is getting his financial issues resolved and (is) ready to play football again.”

The Pro Player Funding case was one of two lawsuits involving Young over the past year. In the second case, he has reached a settlement with his former business manager, Ronnie Peoples of Raleigh, N.C. However Dolezal said earlier this month that he was still waiting on Peoples to “perform” in conjunction with the settlement.

Kilmer was not immediately available for comment Friday, and Sean Bellew, the attorney representing Pro Player Funding, had no comment regarding Friday’s motion.

The Chapter 11 petition estimates Young’s assets between $500,001 and $1 million and liabilities between $1,001,000 and $10 million. A 2013 financial statement listed assets of Young and his wife, Candice, at $1.8 million and liabilities at $2.5 million, with the bulk of that being the $1.8 million principal due in the Pro Player Funding lawsuit.